Hyderabad Real Estate Market: A Booming Transformation under Revanth Reddy’s Leadership

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📷 Image Credits: The Siasat Daily

Hyderabad, the capital city of Telangana, has recently experienced a significant boom in its real estate market, as highlighted by the state’s chief minister, A Revanth Reddy. Over the past 6 months, the real estate sector in Hyderabad has witnessed a remarkable surge, with a 40% increase in demand for both domestic and global office leasing spaces. This growth has been attributed to the efficient governance under the Congress-led state government, focused on delivering tangible results.

Moreover, renowned commercial real estate services firm Cushman & Wakefield’s latest report projects a gross leasing volume of 5 million square feet for Hyderabad in the first half of 2024, representing a substantial 40% upsurge compared to the previous year. Additionally, the residential market in Hyderabad has seen a 39% rise in average prices, outpacing other major cities in India.

On the other hand, the rental real estate market in Hyderabad witnessed a slight dip in growth during the second quarter of 2024, primarily due to an increase in supply. ANAROCK’s report indicates that areas like HITECH City and Gachibowli saw a 3% rise in average rents, showing a more stabilized rental market compared to the previous quarter.

The robust real estate landscape in Hyderabad is further reinforced by the exponential increase in high-value property registrations in March 2024, surpassing the Rs 4,000 crore mark. This milestone signifies a 12% rise from the previous year, with a noticeable surge in luxury properties exceeding Rs 1 crore. Notably, districts like Rangareddy and Medchal-Malkajgiri have emerged as prominent players in the real estate market, showcasing the broad-based nature of Telangana’s economic growth.

In conclusion, Revanth Reddy’s tenure as the chief minister of Telangana has been instrumental in transforming the state’s real estate sector, fostering unprecedented growth and creating a favorable environment for both investors and homebuyers. With visionary leadership and proactive governance, Hyderabad’s real estate market is poised for a promising future, attracting significant attention both domestically and globally.